Uncategorized

AMAZON ACQUIRES RETAIL TECH STARTUP PERPULE FOR RS. 107 CRORE

Highlights
• Amazon Technologies Inc., part of Amazon.com Inc., has purchased retail tech startup Perpule in an all cash-deal of ₹107.6 crore
• It is being said that this acquisition is likely to provide Perpule’s investors an exit with 4x-5x returns


Amazon Technologies Inc., part of Amazon.com Inc., has purchased retail tech startup Perpule in an all cash-deal of ₹107.6 crore. This acquisition has been made by the e-commerce giant in order to boost its play in the kirana-tech space.
According to two individuals aware of the development, Amazon is expected to pay additional remuneration to Bengaluru-based Perpule’s employees, which is like to take overall deal value to nearly ₹150 crore.
By acquiring Perpule, Amazon is planning to up its game in the kirana-tech space as it would now leverage Indian company’s cloud-based point-of-sale (PoS) offering ‘UltraPoS’ and offer a new suite of technology products to kirana partners, and also digitizing stores in the neighborhood.
It is being said that this acquisition is likely to provide Perpule’s investors an exit with 4x-5x returns. The Bengaluru-based startup has managed to rake in nearly $4.7 million till date from Prime Venture Partners, Kalaari Capital, Venture Highway and Taxiforsure co-founder Raghunandan G.
Perpule’s cloud POS will aid offline stores of all sizes manage their operations better said an Amazon India spokesperson confirming this purchase. The spokesperson said “Perpule has built an innovative cloud-based POS offering that enables offline stores in India to better manage their inventory, checkout processes, and overall customer experience. We are excited to have the Perpule team join us to focus on providing growth opportunities for businesses of all sizes in India while raising the bar of the shopping experience for Indian customers.”

Comment here